Commentary: Near term, expect the EURUSD to challenge congestion near 1.4452 before the pair reverses and drops to a new low (below 1.4330). The drop below 1.4330 should complete wave C (and larger wave 4) of the A-B-C decline from 1.4967. A potential terminus for the decline is where wave C = wave A; at 1.4309. The next 5 to 6 weeks should see larger wave 5 exceed 1.5000.
Strategy: Flat
Al Bawaba
